Input benchmark examples

Norman is a taxi operator in a metropolitan area. He owns five taxis, each travelling an average of 160,000 kilometres per year. The total distance travelled for all five taxis is 800,000 kilometres.

Norman is worried about his record keeping so he checks his estimated income against the benchmarks. Norman receives 50% of the fares for each taxi. His records show total fares of $780,000. His share of the fares is $390,000.

Using the 2013 cents per kilometre rate of $1.30, he calculates the total fares for all five taxis should be $1,040,000. Norman calculates his share of the total should be $520,000 under his standard 50% bailment arrangement.

Norman's recorded income doesn't match the benchmarks. He asks his bookkeeper for advice on keeping better records.

Example 2

George is a taxi driver. According to his log book for 2012–13, George worked 150 shifts and took total fares of $44,000 (including GST).

George calculates that his total fares per shift are $293, which is below the benchmark of $390.

George decides to seek advice on his record keeping.

Example 3

Jeff, a Sydney taxi driver, has purchased 12,000 litres of LPG.

According to the fuel usage benchmarks, of 18 litres per hundred kilometres, Jeff's taxi should have travelled about 66,670 kilometres. Using the benchmark cents per kilometre rate Jeff should have taken total fares of $86,671. His records show total fares of only $85,337.

As this is close to the benchmark, Jeff is reasonably confident that he has correctly recorded all his fares.

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